Whatever positivity the dollar had after the FOMC, faded as the dollar remained capped at the end of familiar ranges.
Perhaps market players had decided that the Fed’s long-term outlooks are too cloudy to be meaningful?
Maybe.
Non-dollar base pairs like EURUSD, GBPUSD, etc, are either stalling at the bottom of their target ranges (at least in the H4 charts at the end of this article), or price action is returning to cross back up above its 60MA which signals a change in trend.
Dollar base pairs like USDJPY are just stalling at current levels.
The following are H4 charts of a selection of major FX pairs. Each chart shows the historical support levels (for EURUSD, GBPUSD, AUDUSD, and XAUUSD), and resistance levels (for USDJPY) that the dollar has to traverse in order to realize a bullish outlook.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Each pair would have to cross their respective colored zones to confirm any meaningful change in trend.
All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
